The Double Comma Club

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Succeed During Change With Excellence and Ethics

Bridgett Modglin

 

Today's Agent Talk features a professional who raises the bar for all agents. Excellence and ethics are the core of what drives her to treat each client and listing - no matter what price range the same, with the same care and dedication. Get to know her in this edition of The Double Comma Club.

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Be willing to fail and think of your agents as your clients.

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Learning how to fail is one of the best lessons learned in an industry as humbling as Real Estate. Life, and your career, is a marathon not a sprint with the goal of collecting memories instead of trophies because as we all know, trophies collect dust. Jeff thinks of his agents as his client. His job is to solve their problems so they can do what they do best - real estate transactions to solve the problems of THEIR clients.

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Competitors aligning, fun with your team and riding the wave of change.

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It's 2020 and we are all being challenged to think outside of the box. You have to put the wide lens on to make sure your plan of action encompasses everything you value and what makes your company unique. And when it comes to real estate, an industry based on connections, it's even more important. This week we are spending time with Jana Miller, Managing Broker of Live Urban Real Estate.

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Colorado New Home Construction Trends and Recommendations

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Nicole's guest is redT Homes CEO, Nathan Adams. He brings a unique perspective to the real estate market in the Denver Metro area because his firm's sweet spot is new construction. First, they covered the growing popularity of townhomes over condos because of shared spaces, including elevators. A townhome is your own germs, your front door is your own. 

Closings for his firm have gone way up to give them their best month in the 15-year history of their company.

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Deeper Conversations Lead to Stronger, Longer Business Relationships

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Get to know Lori Pace who is way more than an associate broker at Kentwood. This movement leader, compassionate, talented agent talks with Nicole on this Agent Talk episode on The Double Comma Club. Here's a taste, "What I did differently last year changed my business significantly. I stopped focusing on the revenue and started focusing on the relationship. And by me being me, my business almost doubled because I stopped pretending that I was just a Realtor because I am not just a Realtor. I think a lot of us do this, we pretend that we don't have families. We pretend that we don't have loss. We pretend that everything is okay. I stopped pretending and showing up and being real about it.

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Offer Safety and Security, Not Bricks and Sticks.

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Nicole's guest today is Nilmini Hecox. She left us with an interesting perspective as an immigrant from Sri Lanka, turned real estate agent. Our real estate culture here stuns her. As she has become more vulnerable and personal with her clients, she's gained so many insights and stronger relationships. Nilmini says, "The service I offer is about safety and security, not bricks and sticks. We are in the midst of this wave of change that may never reach the shore." Please listen to this 10-minute episode of her story and what she has done to ride this wave of change for the benefit of her clients.

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Back to Basics to Build Your Long-term Value to Your Clients

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When everyone is looking for a shiny penny, the technology to bring in more business, Euan is focusing on the basics. "At the end of the day, you are your business." You've got to KNOW how you are approaching your business, the value you are bringing to your clients, and your differentiator. If you can't express the simple 'why' you do what you do; you can't serve the people you were meant to serve. This week we visit with Euan Graham, DMAR Chair, Realtor Madison and Company and get the simple perspective from an Immigrant.

"Life is too short to be around negative people." – Euan Graham

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Real Estate is Essential, Realtors are Not

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Sometimes as real estate industry professionals we get caught up in the success, in the transaction, counting units and production. Those are real and tangible and feel good. But when we celebrate the client's success, remembering who the real estate industry is really about, then we stop making it about us and are able to make a dramatic difference in people's lives for today and all of their tomorrows... it's multigenerational.

Nicole asked Bret, "What would you say is the one thing that you've learned during this time, right during COVID19? We've all had to rethink everything. What was the one thing that you've learned that really stands out?"

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Stop Pivoting and Double Down on Who You Are as an Agent

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Nicole welcomes Alex Tooke, one of the founders of Peak Properties Group to Agent Talk today. Derek Weber and our guest, Alex Tooke have grown Peak to a consistent $100 million in transactions per year company. They have 20 agents and three locations. He really drives home the overuse of the word pivot. There is no need to pivot your business now. This is the time to double-down on your core values as an agent and a company. What are you already good at? Do more of that. Look for collaboration among your competitors for the benefit of all agents and the local industry. There is enough room for everyone to continue building strength from within their teams. This 8-minute conversation will give you some aha moments, and allow you to not buy into the need to change everything you know in order to survive in these times. Instead, focus on what you do well and thrive. Learn more about Peak Properties Group here.

Nicole Rueth
The Rueth Team of Fairway Independent Mortgage Corporation
750 W Hampden Avenue, Suite 500
Englewood, CO 80110

303-214-6393 www.TheRuethTeam.com

Connect on social media:
Follow me on FB: https://www.facebook.com/theruethteam/
Twitter: https://twitter.com/nicolerueth
Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/
YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw 

 

What to expect in Q3 Since Our Usual Upswing Isn’t Happening

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We have Steve Danyliw, who I am honored to have as long as I've known him, which hasn't been long enough. He has been if you will, the man behind the curtain of DMAR's Market Trends report. He is a data geek, which speaks to my heart. He started the market trends report back with Gary Bauer in 2012. He's been in the industry pretty much since birth since his second-generation realtor, but officially he's been in 18 years, so he's seen the cycles. He's seen the seasons, and this season is unlike anything else. So I wanted to ask Steve, especially this week when the market trends report just came out. Steve, what are you seeing this month?

Steve: Maybe that not surprised you, but numbers different than where we usually go this time of year. Definitely this time of year, the market starts accelerating. The seasonality of the Denver metro market is that we typically hit the bottom in December and January. Then it's a quick acceleration up to June where we typically peak. Then it's a slow decline all the way back to December and in January. We just didn't see this covert housing market has just pretty much taken the air out of the balloon.

When it comes to that spring surge of the housing market and normal seasonal increases that we expect to this time of the year just have not happened. And the question then becomes, is this a short term situation?

Steve: It is short term, but the impact and the ability to recover, how long is that going to really take. There really is no easy answer because we're in uncharted waters and there is no way to go back and say, oh, this is like the financial collapse in '08, and so this is what we can expect to happen. There is this percentage of distressed sales, and we had short sales and foreclosures and, 2010 – 35% of what we sold in certain months were properties that were in some sort of financial distress. Right now, we're at about 0.1%. So we're still healthy and in those regards. But this time of the year we should be seeing seasonal increases. We would normally see new listings increased 5% this time of year from March to April. And we saw it drop by almost 30%. So there was a lot of red in this report. Is it scary? Not necessarily. It's not scary. We’re not falling off a cliff. This was all kind of expected.

You can't shut down an economy and not see these types of numbers happen.

 

So you'd expect this to continue into the May report as well, or the May data in the June report?

Steve: Generally, there are certain things, traditionally when a property goes under contract, it's 30 to 45 days to closing. And so you could always potentially look at the pendings or under contracts in a given month to kind of predict what the following month is going to be like.

Your pendings are going to turn into [closings], hopefully. They give you a good barometer of closings the following month. Historically, we should see about a 5% increase month over month in properties going under contract. This is part of that increase in the spring moving into the summer, and we dropped by about 30%. We had 30% fewer. so when you talk about what we see normally see seasonality plus the additional 30%. What it really means is that closings are also next month or the end of this month. The closings, they're going to be probably significantly down once again. Is it going to be in the 30% to 40% range off the pace from the same month last year? Probably to be conservative is probably going to be in that area could we be even a potentially little higher? It's possible.

Listen to the rest of this episode to hear more of Steve's insights for the coming two quarters.

Nicole Rueth
The Rueth Team of Fairway Independent Mortgage Corporation
750 W Hampden Avenue, Suite 500
Englewood, CO 80110

303-214-6393 www.TheRuethTeam.com

Connect on social media:
Follow me on FB: https://www.facebook.com/theruethteam/
Twitter: https://twitter.com/nicolerueth
Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/
YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw 

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